Airtel Money has announced it is reducing its paybill, bulk payment, and wallet to bank charges. The announcement comes as people and businesses have been reported to be staying away from M-Pesa Paybills thanks to them being expensive. Airtel’s move marks what they describe as their unwavering commitment to increasing affordability for its customers in a rapidly digitising landscape.
The recent change ensures that Airtel Money’s Paybill and Wallet to Bank charges are considerably lower compared to the existing market rates in each tariff band. With the Kenyan government increasingly leaning towards digital payments for its services, the slash in paybill transaction charges is anticipated to be received positively, particularly by those who use e-citizen services via Airtel Money.
This cost-cutting does not compromise on quality, as Airtel Money users will still relish the benefits of zero charges on essential utility bill payments such as electricity.
Airtel Money Kenya’s Managing Director, Anne KInuthia-Otieno, underlined the company’s dedication by stating, “This move reaffirms our continuous commitment in supporting our customers especially with the prevailing economic challenges. Airtel Money will continue providing flexible and personalized solutions while at the same time delivering exceptional services and value for their money.”
Revised Airtel Money Charges To PayBill and Banks
|Tariff Bands and limits in KES||New Paybill and Wallet to Bank Charges in KES|
|0 – 100||0|
|101 – 500||4|
|501 – 1000||9|
|1001 – 1,500||12|
|1,501 – 2,500||13|
|2,501 – 3,500||20|
|3,501 – 5,000||23|
|5,001 – 7,500||30|
|7,501 – 10,000||37|
|10,001 – 15,000||57|
|15,001 – 20,000||62|
|20,001 – 25,000||67|
|25,001 – 30,000||72|
|30,001 – 35,000||95|
|35,001 – 40,000||99|
|40,001 – 45,000||103|
|45,001 – 50,000||105|
|50,001 – 70,000||105|
|70,001 – 150,000||105|
|150,001 – 250,000||105|
Airtel’s recent move follows a series of strategic decisions made over the past few months:
- June: A substantial investment was poured into enhancing Networks.
- July: Airtel proudly introduced 5G technology in Kenya, bringing next-generation connectivity to its users.
- End of August: Transaction limits were increased, jumping from KES 150,000 to KES 250,000.
- October: A new set of mobile money rates for withdrawals and transfers to other networks was unveiled, while Airtel Money to Airtel Money transfers remain free of charge.
The series of improvements and offers indicate Airtel’s progressive stance in the market, prioritizing customer experience and ensuring that they remain ahead in the race of digital financial services.